Finance Act 2008

Amendment of section 12 (deduction for tax borne or paid) of Principal Act.

94.— Section 12 of the Principal Act is amended—

(a) in subsection (1)(a)—

(i) in paragraph (iiic) with effect from 1 July 2008 by substituting “section 4B(6)(a) or 4(8)” for “section 4(8)”, and

(ii) with effect from 1 September 2008 by inserting the following after subparagraph (vb):

“(vc) the tax chargeable during the period, being tax for which the principal is liable by virtue of section 8(1B) in respect of construction operations services received by that principal; but this subparagraph shall apply only where that principal would be entitled to a deduction of that tax elsewhere under this subsection if that tax had been charged to such principal by another accountable person,”,

(b) in subsection (4) with effect from 1 July 2008—

(i) in paragraph (a) by inserting “movable” after “means” in the definition of “dual-use inputs”, and

(ii) in paragraph (f) by substituting “accounting year” for “accounting period”,


(c) with effect from 1 July 2008 by deleting subsection (5).